Aer Lingus made a once-off payment of €25.3m to end its profit-share obligation to its Employee Share Ownership Trust (ESOT).
The group had been due to pay an annual share of its profits to the ESOT until at least 2023.
The ESOT was established when the company was floated on the ISEQ in 2006.
In a statement, Aer Lingus said it would financially benefit from the deal as the once-ff payment is envisioned to be less than futures profit share payment and the ESOT’s debt and associated interest.
Around 12.5% of the group’s issued share capital will now be transferred to some 4,700 current and former employees of the ESOT .
